Wall Street: Diversity, Disparity

Although the financial sector in New York is becoming more racially diverse, white males remain far ahead in compensation, according to a report, “The Progress and Pitfalls of Diversity on Wall Street,” by CUNY’s Center for Urban Research. The latest census data shows that the workforce of white men on Wall Street decreased (from 57% in 2000 to 54% in 2009), but they earned more than twice as much annually as some other ethnic groups. “White men still dominate when it comes to the economic rewards,” says Richard Alba, acting director of the Center for Urban Research, who co-authored the study.